More Let Me Outta Here Re: Pension Initiative

I want out!

Yours truly has been posting about the recently filed public pension (and retiree health care) initiative which covers UC.  UC needs a strategy including first attempting to see if the sponsors will amend it or file a revised version that omits UC.  This is a political battle it would be best to avoid if possible.

The initiative has the potential to become a “symbol” of intergenerational conflict as a recent article in calpensions.com points out.  Once things become symbols of something that goes beyond the issue at end – think “ObamaCare” – the pros and cons get lost.

From the calpensions.com article – which starts about the pension initiative itself, but then goes on:

…Last week, the opinion pages of the New York Times and Wall Street Journal both had articles about a “legendary investor” who has been touring college campuses to urge students to mobilize against what one of the writers called “generational theft.”  Stanley Druckenmiller, 60, a retired hedge fund founder said to be worth $2.9 billion, often was joined by Geoffrey Canada of the Harlem’s Children Zone in appearances at Stanford, Berkeley, USC and other campuses…

Full article at http://calpensions.com/2013/10/21/initiative-shows-how-young-pay-pensions-of-old/